16.01.2018

Meeting with representatives of regulated institutions of Ministry of Finance of the Republic of Tajikistan

On January 12, 2018, it was held the meeting in the National Bank of Tajikistan with representatives of the Ministry of Finance of the Republic of Tajikistan as well as reporting organizations of this ministry in order to improve the level of knowledge of experts. These institutions include:

• institutions engaged in purchase and sale of precious metals and precious stones, jewelry made of them and scrap of such items;
•  pawnshops;
• agencies containing betting and bookmaker offices;
• establishments on arrangement of lotteries.

The meeting was opened by Faizullozoda F. – Acting Director of Financial Monitoring Department under the National Bank of Tajikistan and informed that in accordance with the Decree of President of the Republic of Tajikistan No. 966 dd. December 12, 2017, the National Bank of Tajikistan was appointed as authorized body in field of combating legalization (laundering) of proceeds from crime, financing terrorism and proliferation of weapons of mass destruction financing prevention (AML/CFT/PWMDFP).

In addition, brief information was provided on practical activities and elimination of existing deficiencies under the current legislation.
In order to increase the level of knowledge of participants of the seminar, representatives of Financial Monitoring Department have made presentations on the following topics:

• Requirements of legislation of the Republic of Tajikistan in the field of (AML/CFT/PWMDFP);.
• Procedure of reporting in accordance with the Article 6 of Law of the Republic of Tajikistan "On (AML/CFT/PWMDFP).";
• Preparation for the 2nd round of mutual assessments of the Eurasian Group on Combating Money Laundering and Terrorist Financing (EAG);
• Report on the National Assessment of Risks of Legalization (Laundering) of Proceeds from Crime and Financing of Terrorism.

Faizullozoda F. has noted that the Financial Monitoring Department prepared a draft on introducing amendments and additions to the Criminal Code of the Republic of Tajikistan with a proposal to impose a penalty for disclosure of information by institutions effecting transactions with money or other property related to measures taken in the context of AML/CFT/PWMDFP.

It was noted that the National assessment of risks of legalization (laundering) of proceeds received by criminal ways and terrorism financing was carried out from April 2015 to September 2017. The final draft of the report was approved at the meeting of permanent Interdepartmental Commission of AML/CFT/PWMDFP on September 18, 2018.

It is necessary to note that the short version of report is available on page of the Financial Monitoring Department on website of the National Bank of Tajikistan. Faisulozoda F, responding the questions of representatives of reporting organizations, also noted that the Republic of Tajikistan is in the process of the 2nd round of mutual assessments by the EAG and that reporting organizations should in general be prepared for consulting with expert- appraisers. 

It should be noted that the arrangement of meetings with representatives of private sector is the result of close cooperation between the Financial Monitoring Department, Ministry of Finance and these institutions.

Financial Monitoring Department